New research showing the social and fiscal benefits of homeownership underlines the need for a massive government-backed building programme like KiwiBuild, says Labour’s housing spokesperson Phil Twyford.

The Housing Foundation today released three reports that all point to the overwhelming benefits of shifting people into affordable homeownership.

“Getting people into affordable homeownership is the ultimate win-win.

“The international literature clearly shows homeownership is linked to positive outcomes for people including better educational outcomes, higher employment, better health, and less crime.

“New local research by BERL shows shifting people from state housing to home ownership would save the taxpayer millions of dollars net by increasing taxes paid, and reducing demand for government services.

“This research, sponsored by one of the most respected community housing providers and undertaken by credible independent researchers, is a very welcome contribution to the housing debate.

“Labour is committed to homeownership through our KiwiBuild programme, as shown by our announcement of 400 new houses in the Hutt Valley today.

“It is time for a change of government so Labour can get on with building 100,000 affordable homes to house a new generation of young Kiwi families,” says Phil Twyford.